Something unusual is happening with Shiba Inu (SHIB) as multiple metrics are surging today. Starting with the burn rate, data from Shibburn shows that the metric has jumped over 640% in 24 hours to 5,555,360 SHIB. This rise is evidence of bullish activity in the Shiba Inu ecosystem.

Shiba Inu Price and Potential Catalysts

While SHIB’s total burn is modest, the token’s price surge has been even greater. As of press time, SHIB has surged 13% in 24 hours, with its price outpacing the top 20 tokens.

With this growth rate, SHIB’s price jumped to $0.0000168, its highest level in the past month, strongly boosting profitability.

Optimism about Shiba Inu was further fueled recently when the project’s head of marketing, LucieSHIB, released an update on its planned stablecoin launch. The team believes that now is the time to launch a stablecoin called SHI, which will be pegged to $0.01.

LucieSHIB admitted that the team has not yet determined the specific mechanism for achieving this peg, nor has it made further updates. However, she revealed some of the main selling points of the stablecoin, including its potential role in the ecosystem.

Shiba Inu is growing rapidly and is continually launching new products and services to serve its growing community. While the timeline for SHI’s launch remains unclear, it provides another positive impetus for the community to go all-in with the token.

Shibarium Restart

The advent of SHI will be the missing ingredient for Shibarium dApps and projects. With SHI, various smart contracts hosted on layer 2 scaling solutions will have spare liquidity that can best fuel their growth.

Overall, Shibarium has been preparing for this potential reboot in the months following the last hard fork. With the clear uptick in transaction numbers, Shibarium will see further improvements in the near future.